Anthony McPartlin and Declan Donnelly have launched High Court proceedings over claims that funds from the sale of their Banksy artworks were misappropriated.
The television presenters, both 50, allege that a substantial sum from multiple sales of pieces by the elusive street artist has gone missing.
Court documents show Mr McPartlin and Mr Donnelly have filed a Part 8 claim in the Business and Property Courts.
Art dealer Andrew Lilley and his company, Lilley Fine Art Ltd, are named as defendants, although Mr Lilley is not accused of any wrongdoing.
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The presenting duo claim that funds from the sale of their Banksy artworks were misappropriated
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Instead of seeking damages, the presenters are applying for specialist legal remedies known as Norwich Pharmacal and Bankers Trust orders.
These allow courts to compel third parties to disclose documents or information that could help identify wrongdoers or trace assets.
The filing states there is “a good arguable case that there has been wrongdoing” and that the applicants require the orders to take action against those responsible.
It adds that the defendants may have been “mixed up in the wrongdoing” and are likely to hold relevant information.
Banksy is known for iconic artowrk such as Love is in the Air, Kissing Coppers and Balloon Girl
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The claim centres on an unnamed intermediary who allegedly acted as an art sales representative during the transactions.
This individual is accused of concealing the true sale prices when brokering deals between the presenters and Mr Lilley.
According to the claim, Mr Lilley purchased the works in good faith several years ago, paying market value through the intermediary.
The third party is alleged to have pocketed a larger commission than was legitimately owed by obscuring the true figures.
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| ITVMr McPartlin and Mr Donnelly’s legal team believe Mr Lilley holds key information that could support a future claim against the intermediary.
The precise sum being sought has not been disclosed, but is understood to be significant.
The duo, best known for hosting I'm a Celebrity...Get Me Out of Here!, are long-time collectors of contemporary art and have previously spoken about their interest in Banksy.
They are believed to have spent around £1 million building both personal and joint collections.
Banksy work regularly fetches six- and seven-figure sums
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Mr Lilley has reportedly agreed to assist the investigation, although any disclosure must await a High Court ruling to avoid breaching data protection laws.
The presenters have also indicated they are willing to cover Mr Lilley’s legal costs in return for his cooperation.
Banksy works regularly fetch six and seven-figure sums, with demand for the anonymous artist’s pieces remaining strong despite a volatile art market.
The alleged shortfall is understood to relate to several transactions rather than a single sale.
The duo began collecting Banksy works together in 2009 after attending an exhibition where they reportedly spent approximately £1 million on various pieces
Mr McPartlin and Mr Donnelly have kept details of the artworks involved private.
Any future claim would depend on what information is uncovered through the court-ordered disclosures.
Representatives for the presenters have been contacted for comment by GB News.
The case remains at an early procedural stage.